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Nihon, Inc. manufactures digital cameras. It has two departments assembly and testing. In January 2020, the company incurred $725.000 on direct materials and $825,000 on conversion costs, for a total manufacturing cost of $1,550,000 Read the requirements Requirement 1. Assume there was no beginning inventory of any kind on January 1, 2020. During January, 20,000 cameras were placed into production and all 20,000 were fully completed at the end of the month. What is the unit cost of an assembled camera in January? (Round your answers to the nearest cent) Requirements Drect materials cost per unit Conversion cost per unit Assembly department cost per unit 1. Assume there was no beginning inventory of any kind on January 1, 2020 During January 20,000 cameras were placed into production and all 20,000 were fully completed at the end of the month. What is the unit cost of an assembled camera in January? 2. Assume that during February 20,000 cameras are placed into production Further assume the same total assembly costs for January are also incurred in February, but only 18,000 cameras are fully completed at the end of the month All direct materials have been added to the remaining 2.000 cameras However, on average, these remaining 2.000 cameras are only 25% complete as to conversion costs (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? (b) What is the unit cost of an assembled cameras in February 2020? 3. Explain the difference in your answers to requirements 1 and 2 - X

Nihon, Inc. manufactures digital cameras. It has two departments assembly and testing. In January 2020, the company incurred $725.000 on direct materials and $825,000 on conversion costs, for a total manufacturing cost of $1,550,000 Read the requirements Requirement 1. Assume there was no beginning inventory of any kind on January 1, 2020. During January, 20,000 cameras were placed into production and all 20,000 were fully completed at the end of the month. What is the unit cost of an assembled camera in January? (Round your answers to the nearest cent) Requirements Drect materials cost per unit Conversion cost per unit Assembly department cost per unit 1. Assume there was no beginning inventory of any kind on January 1, 2020 During January 20,000 cameras were placed into production and all 20,000 were fully completed at the end of the month. What is the unit cost of an assembled camera in January? 2. Assume that during February 20,000 cameras are placed into production Further assume the same total assembly costs for January are also incurred in February, but only 18,000 cameras are fully completed at the end of the month All direct materials have been added to the remaining 2.000 cameras However, on average, these remaining 2.000 cameras are only 25% complete as to conversion costs (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? (b) What is the unit cost of an assembled cameras in February 2020? 3. Explain the difference in your answers to requirements 1 and 2 - X

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Nihon, Inc., manufactures digital cameras. It has two departments assembly and testing. In January 2020, the company incurred $725,000 on direct materials and $825,000 on conversion costs, for a total manufacturing cost of $1,550,000 Read the requirements arch Requirement 1. Assume there was no beginning inventory of any kind on January 1, 2020. During January, 20,000 cameras were placed into production and all 20,000 were fully completed at the end of the month. What is the unit cost of an assembled camera in January? (Round your answers to the nearest cent) Direct materials cost per unit Conversion cost per unit Assembly department cost per unit Etext pages Get more help. Requirements 1. Assume there was no beginning inventory of any kind on January 1, 2020 During January, 20.000 cameras were placed into production and all 20,000 were fully completed at the end of the month. What is the unit cost of an assembled camera in January? 2 Assume that during February 20,000 cameras are placed into production Further assume the same total assembly costs for January are also incurred in February, but only 18.000 cameras are fully completed at the end of the month. All direct materials have been added to the remaining 2,000 cameras However, on average, these remaining 2.000 cameras are only 25% complete as to conversion costs. (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? (b) What is the unit cost of an assembled cameras in February 2020? 3. Explain the difference in your answers to requirements 1 and 2 Print Done Clear all Sunset X Check answer 8:10 PM 4/21/2023 ▸
Transcribed Image Text:Nihon, Inc., manufactures digital cameras. It has two departments assembly and testing. In January 2020, the company incurred $725,000 on direct materials and $825,000 on conversion costs, for a total manufacturing cost of $1,550,000 Read the requirements arch Requirement 1. Assume there was no beginning inventory of any kind on January 1, 2020. During January, 20,000 cameras were placed into production and all 20,000 were fully completed at the end of the month. What is the unit cost of an assembled camera in January? (Round your answers to the nearest cent) Direct materials cost per unit Conversion cost per unit Assembly department cost per unit Etext pages Get more help. Requirements 1. Assume there was no beginning inventory of any kind on January 1, 2020 During January, 20.000 cameras were placed into production and all 20,000 were fully completed at the end of the month. What is the unit cost of an assembled camera in January? 2 Assume that during February 20,000 cameras are placed into production Further assume the same total assembly costs for January are also incurred in February, but only 18.000 cameras are fully completed at the end of the month. All direct materials have been added to the remaining 2,000 cameras However, on average, these remaining 2.000 cameras are only 25% complete as to conversion costs. (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? (b) What is the unit cost of an assembled cameras in February 2020? 3. Explain the difference in your answers to requirements 1 and 2 Print Done Clear all Sunset X Check answer 8:10 PM 4/21/2023 ▸
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